“There’s broad disagreement about the social cost of carbon—an estimate policymakers use to weigh the value of actions aimed at stopping climate change. Politicians say given all this uncertainty, let’s wait. But if you believe we should reduce the use of carbon, we need to have a harmonized carbon tax. If the price goes up, people will use less. It’s easier than trying to put a limit on emissions.”

—Economist Robert Pindyck, delivering the U's third annual Jon Goldstein Memorial Lecture on Economics and Environmental Policy, made possible by a gift from Richard and Ellen Sandor

Watch the entire lecture: